Treasurer admits there are ‘definitely’ going to be businesses that ‘struggle after JobKeeper’
Federal Treasurer Josh Frydenberg has acknowledged that some businesses will “struggle after JobKeeper”.
The JobKeeper scheme ends on the weekend, and some businesses say they’ll be forced to close when it finishes up.
The Australian Council of Trade Unions and Australian Industry Group have warned there’s “no doubt” businesses will fold when the program ends.
On Thursday, Treasury secretary Steven Kennedy said “in the order of 100,000 to 150,000 JobKeeper recipients may lose employment”.
“There are definitely going to be businesses that struggle after JobKeeper,” Josh Frydenberg told Neil Mitchell.
“But what the secretary to the Treasury did say in his full statement is that JobKeeper needed to end because it has a number of adverse characteristics that would prevent the economy strengthening on the other side of COVID.
“He also did say that there’s other support measures that are rolling out and that the unemployment rate would continue to trend down.”
Mr Frydenberg says businesses should look to other economic support measures available.
“JobKeeper is not the only economic support program that the government has announced,” he said.
Press PLAY below for the full interview.